1
0
BofA Securities analyst Michael Feniger upgraded PACCAR Inc. (NASDAQ:PCAR) to Buy from Neutral, raising the price forecast to $121.50 from $116.
The analyst notes that PACCAR stock underperformed in 2024 due to pricing and production concerns, but projects green shoots in the truck market in 2025, leading to growth in 2026.
Per Feniger, PACCAR is one of the few OEMs likely to report a new peak EPS next year.
The analyst suggests that while all machinery markets face supply-demand imbalances, trucks will likely balance first due to factors like pre-emptive purchases ahead of emissions changes, stabilizing used truck inventories, and improving market …
Full story available on Benzinga.com
Visited 1 times, 1 visit(s) today